In the second half of 2025, Bioeffect hf., an Icelandic skincare company, completed a USD 2.5 million equity raise with participation from the international investor group TEG Commerce LLC (Quantifi), which became a new shareholder in the company. Quantifi’s expertise will support Bioeffect’s continued expansion in the United States, with a particular focus on Amazon and e commerce. A representative of the investor group has joined the company’s Board of Directors.
Bioeffect hf. develops, produces and markets Icelandic skincare products based on Icelandic innovation. The active ingredients in the company’s skincare lines are growth factors produced using plant biotechnology, with EGF (Epidermal Growth Factor) being the company’s most well known growth factor.
“Bringing Quantifi into our shareholder group is a significant strength for the company, as their expertise will support further expansion in the United States, with an emphasis on Amazon and e commerce. In connection with the investment, Karim Abbas joined the Board of Directors” Bioeffect stated in an announcement.
Arctica Finance acted as adviser to Bioeffect in connection with the equity raise.
